Last year, more than 102,000 preowned single-family homes were sold in the D-FW area — a more than 3 percent increase from 2016 sales by agents. Statewide, 336,502 homes were sold, up 4 percent for the year.

"Across the state, we are projecting sales activity to be even more robust in 2018," James Gaines, chief economist with the Real Estate Center at Texas A&M University, said in the report. "One of the big drivers will be from first-time homebuyers finding opportunity in the market with more builders focusing on the entry-level price point and lenders relaxing the requirements for first-time homebuyers.

"Additionally, the likelihood of more volatile interest rates in 2018 will influence homebuyers to buy now rather than later."

D-FW's median home sales price last year rose almost 10 percent to a record $255,000, according to the Realtors association. The increase in home costs came even though the inventory of houses listed for sale with agents rose more than 9 percent in 2017.

The largest share of homes sold last year in D-FW — almost a third — went for between $200,000 and $300,000, according to the Realtors.

Almost a quarter of the local buyers in 2017 were between 45 and 54 years old, the largest share of the market.

Just under 60 percent of D-FW residents live in owner-occupied homes. That's slightly less than the statewide homeownership rate of 62 percent.